- CADs Handle 15 Million Properties for About 3,600 Taxing Units
- Rylander Reports
- Annual Property Tax Conference Program
- Joint Conference Pre-Registration Form
- PTD Staff Clarifies Fencing Cost Method and Adjustments
- Penalty and Interest Charges for Delinquent Tax Collections
- Penalty and Interest Rate Schedule - 1999/2000
- Insert: 1999 Texas Property Tax Law Changes
PTD Staff Clarifies Fencing Cost Method and Adjustments
In the May/June 1999 issue of STATEMENT, the Comptroller's Property Tax Division (PTD) staff found two errors in the article on the method of estimating fence costs using the Marshall & Swift Valuation Guide. PTD apologizes for the omission and for any confusion that the errors may have caused.Estimating Fence CostThe article did not include the "Unit-in-Place Multiplier" calculation. This multiplier is found in Section 99, Page 3, of the Guide. The multiplier updates the base costs, after deductions, to a current cost basis for the United States Central Region as of January, 1997.
In the article, the local multiplier was incorrectly applied to the base costs. The local multiplier should be applied to the base costs after deductions.
The example provided in the May/June issue is shown below, using the corrected method for estimating fence costs.
Base cost for low cost wire mesh on steel posts $2.30 Add for wooden posts 0.30 Subtotal, base costs $2.60 Deductions: Quantity deductions - 15 percent 0.39 Amateur workmanship - 25 percent 0.65 Contractor profit and overhead - 10 percent 0.26 Total deductions $1.30 Adjusted cost base before multipliers $1.30 Unit-in-place multiplier of 1.09 - 9 percent 0.12 Subtotal $1.42 Local multiplier of .86 - 14 percent 0.20 Estimated per linear foot costs $1.22 per linear foot or for one mile of fence $6,441.60 per mile